TriLinc Global Impact Fund Makes Impact Investments in Southeast Asia and Latin ...
Southeast Asia and Latin America, April, 20 2021 -
TriLinc Global Impact Fund, LLC (“TriLinc Global Impact Fund” or “TGIF”) announced today that it recently approved $16,372,136 in term loan and trade finance transactions in Southeast Asia and Latin America. The transaction details are summarized below.
TGIF is an impact investing company that provides growth-stage loans and trade finance to established small and medium enterprises (“SMEs”) primarily in developing economies where access to affordable capital is significantly limited. Impact investing is defined as investing with the specific objective of achieving a competitive financial return as well as creating positive, measurable impact in communities across the globe.
TGIF recently approved $16,372,136 in transactions that meet TGIF’s requirements for underwriting, economic development, and societal advancement, as described below:
On March 4, 2021, TGIF funded $15,000,000 to a sustainable cocoa processor in Indonesia. The funding included (i) a $10,000,000 three-year term loan facility, priced at 12.3%, that will mature on March 4, 2024, and (ii) a $5,000,000 short-term working capital facility, priced at 10.3%, that will mature on May 26, 2021, and which can be extended for a further 12 months on mutual agreement of TGIF and the borrower. With almost 30 years of operating history in Indonesia, the cocoa processor is actively engaged in improving the livelihood of its small-holder farmer supplier community through providing farm management and harvest optimization training.
On March 11, 2021, TGIF funded $1,372,136 as part of an existing five-year term loan facility, priced at 12%, to a sustainable consumer lender in Colombia. The transaction is set to mature on September 1, 2025. The borrower is focused on providing much-needed liquidity to its more than 4,500 clients, the majority of which are women seeking to further their purchasing power for household staple goods.
“By extending financing to the Indonesian cocoa processor and Colombian consumer lender, TGIF is demonstrating its commitment to businesses that have positive environmental and social impact in Southeast Asia and Latin America,” said Gloria Nelund, CEO of TGIF. “More specifically, we are confident that this financing will enhance the competitiveness of the Indonesian cocoa processor and its suppliers in the global cocoa market and support the daily consumer needs of segments of Colombia’s population - teachers and retirees - that are significantly affected by the realities of the COVID-19 pandemic,” added Ms. Nelund.